Moody's Raises Portugal Credit Rating
July 25 2014 - 05:31PM
Dow Jones News
By Maria Armental
Moody's Investors Service on Friday upgraded Portugal's credit
rating one notch to Ba1, citing the country's improved fiscal
condition and an expected continued gradual reduction of the
country's "very high public debt burden.
The outlook is stable, Moody's' said. Ba1 is one notch below
investment-grade.
But there was some concern. "Moody's believes, however, that
Portugal's credit metrics remain inconsistent with an
investment-grade rating," the company said, noting the action
concludes the review for upgrade it had initiated on May 9.
Portugal's credit profile is now aligned with its Ba1-rated
European peers, including Slovenia and Croatia, though the latter
has a negative outlook.
Write to Maria Armental at maria.armental@wsj.com
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